URA Monthly Developer Sales (July 2025)

There was more activity in July, after the lull of the school holidays in June. There were 940 developer sales (excluding Executive Condominiums (ECs)) in July 2025, a very substantial 245.6% more than the 272 sales in the previous month of June, and also 63.2% more than the same period a year ago in July 2024. The top seller during the month was the new launch of Lyndenwoods that sold 97% or 331 units out of a total of 343 with a median price of S$2,463 psf.

New launches in the core central region (CCR) also stoked activity in the prime segment of the market with UpperHouse at Orchard Boulevard and The Robertson Opus chalking up sales of 59% and 43% respectively. With these launches in the CCR there is an observable shift in buyer sentiment from previous positions of muted interest to a growing willingness to consider a reasonable premium for new product. Even though the Additional Buyer’s Stamp Duty (ABSD) for foreign buyers continues to deter demand from non-Singapore residents, local homebuyers are expected to support activity in the prime home market segment, largely for their own occupation. New citizens and permanent residents that favour high-rise living will also be scouting for opportunities, setting down roots in a stable Singapore against the backdrop of a destabilising global environment. According to the Department of Statistics, there were 23,472 new citizens and 34,491 new permanent residents in 2023, the latest data available.

Although private residential sales was slow in Q2 2025 due to a lack of launches after April, homebuyers have jumped off from the sidelines compelled by the opportunities presented by the new launches in July. And this was in spite of the recent upward revision of Seller’s Stamp Duty rates and the extension of the holding period to a fourth year. In the first seven months of 2025, there is now an estimated 5,527 primary transactions, on track to fall in the 7,000 to 9,000 range forecasted by Knight Frank earlier this year.